Monday, November 8, 2021

U.S. Customs and Border Protection Newsroom Update

You are subscribed to Newsroom for U.S. Customs and Border Protection. This information has recently been updated, and is now available.

11/08/2021 06:31 PM EST

CALEXICO, Calif. – U.S. Border Patrol agents assigned to the El Centro Sector arrested a gang member Saturday morning.The incident occurred at approximately 2:48 a.m., when agents assigned to the Calexico station encountered an undocumented...
11/08/2021 06:25 PM EST

OCOTILLO, Calif. – U.S. Border Patrol agents from El Centro Sector rescued an undocumented individual in the Jacumba Wilderness region near Ocotillo, Sunday evening. The incident occurred at approximately 9:30 p.m., when El Centro Sector...

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Do We Really Want to Stimulate Construction Spending Now?

                                                           
The passage of the Biden administration's infrastructure bill gave a big boost to the materials sector of the S&P 500.
 
  
Breitbart Business Digest
November 08, 2021
 

Today's Top Stories From the Breitbart News Desk

The passage of the Biden administration's infrastructure bill gave a big boost to the materials sector of the S&P 500. In particular, construction materials rose 4 percent, and metals and mining stocks ran 3.44 percent. That made them the best performing parts of the stock market today, followed by construction services and the energy sector.

It's somewhat reassuring to see the passage of the infrastructure bill boost sectors that are actually involved in infrastructure. The bill includes $110 billion in funding for roads, bridges, and major projects that most people would recognize as infrastructure. There's also nearly $40 billion to bring public transportation up to date and make it more accessible for the elderly and handicapped. Around $66 billion will go to Biden's precious Amtrak service.

In truth, only a small part of that should be regarded as infrastructure investment, in the sense that it will bring a positive return. The low-hanging fruit of infrastructure—electrification and the national highway system—was picked by our parents and grandparents. Outfitting trains with accessible ramps and elevators may be necessary for our aging population but will not contribute much to the economy.

The reason we say it is only somewhat reassuring that infrastructure stocks are rising is that these are not the sectors of the economy that needed a boost. Construction materials and services have been in high demand since the flight to the suburbs took off last summer. As a sector, energy stocks are up 99 percent over the past 12 months. Construction and engineering stocks are up 75 percent, and construction materials companies are up 53 percent.

So the infrastructure bill is pumping up demand in precisely the areas that are already awash with demand. That's a recipe for higher prices, especially in the near term. Not surprisingly, household expectations for inflation hit their record high in the New York Fed's October survey.

This week brings us both the Consumer Price Index (CPI) and the Producer Price Index (PPI), which are expected to show inflation accelerating once again. The consensus expectation for PPI, released Tuesday, is for 8.6 percent year-over-year gains, with core PPI (ex-food and energy) up 6.6 percent. On Wednesday, CPI is expected to come in at 5.8 percent.

Alex Marlow & John Carney
Breitbart News Network

 
 

TOP STORY

 
Another Record: Inflation Expectations Soar to High Level Ever Again
Inflation expectations among U.S. consumers jumped again in October after climbing unevenly for over a year, a survey from the Federal Reserve Bank of New York showed Monday. Household expectations for inflation over the coming year climbed to 5.7 percent in October from 5.3 percent the previous month, according to the monthly Survey of Consumer Expectations. Median expected inflation over the next three years held steady at 4.2 percent. Both the one-year and three-year are the highest since the survey began in 2013. This is the fourth consecutive record high in the one-year metric. [Click here for more]
 

IN OTHER STORIES...

Trump-Appointed Fed Governor Quarles Steps Down
Federal Reserve governor Randal Quarles said Monday he would resign his position around the end of this year. That opens up another position that the left hopes Biden will fill with an advocate of woke capitalism. It may also bolster Fed chairman Jerome Powell's chances of being renominated in... [Click here for more]
 
South Africa Can't Keep the Lights On, for 3rd Straight Week
South Africa is enduring "load-shedding" for the third consecutive week, as Eskom, the public electricity company, has had to acknowledge major problems with maintenance and power generation capacity as the country enters the summer months. Worse still, the company announced that "Stage 2" load-shedding would have to be "Stage 4" load-shedding instead, bringing major disruptions to companies and households still struggling to bring the economy back from... [Click here for more]
 
Captives of Russia: European Energy Prices Soar as Putin Holds Back Gas Supplies
The consequences of European — and thereby the UK too — dependency on Russia for energy are once again written in plain sight as gas prices soared on Monday after promised supply boosts failed to materialise. Russia, which is the largest supplier of energy to Europe, had said that it would be rising gas flows to the continent on Monday. However, orders from a key Russian pipeline have shown that supplies will likely remain at their current level, prompting massive spikes in... [Click here for more]
 
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Are Christians Against Abortion Because of an “Ancient Mistranslation”?

Ken Ham Daily

 
Ken Ham

G'day Webmaster220 Bible,

It's amazing the way that those who want to justify immorality will use the Bible to do so! Often such people will take a passage that teaches one thing and twist it to "mean" the opposite of what the text clearly teaches. And a recent commentary in The Washington Post is a perfect example of such twisting of the Scriptures.

Read the blog

Check out Monday’s radio program: Critical race theory, or CRT, is taking over the culture. But what is it? Well, it's the belief that racism is part of the air we breathe and those who …

Listen to today's radio broadcast

Sincerely,
Ken Ham

P.S. Here’s a resource from our store that relates to today’s radio program: One Race, One Blood DVD Curriculum

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